Skip to content
Photographer: Krisztian Bocsi/Bloomberg
deals

Deutsche Bank Hires SCB's Suntichok as Thailand Head

Deutsche Bank Hires SCB's Suntichok as Thailand Head

  • Suntichok will join Deutsche Bank in May from Siam Commercial
  • Dealmaking in Thailand set to pick up despite local politics
Key Speakers At DIW Women's Finance Summit
Photographer: Krisztian Bocsi/Bloomberg

Deutsche Bank AG has hired Siam Commercial Bank Pcl’s Pimolpa Suntichok to head its business in Thailand, according to people with knowledge of the matter.

She will join the German lender in May as chief country officer and head of the financing and solutions group for Thailand, one of the people said, asking not to be identified because the information is private.

Dealmaking in Thailand is set to pick up pace even as political uncertainty in the country of 69 million people threatens its economic outlook. The nation’s richest man, Charoen Sirivadhanabhakdi, is weighing an initial public offering of a domestic property business, while conglomerate Central Group is considering listing retail assets, people with knowledge of the matter have said.

State-owned energy giant PTT Pcl is also planning an IPO of its retail oil business. Representatives from Deutsche Bank and Siam Commercial Bank declined to comment.

Suntichok, who has been in the industry more than 20 years, was senior vice president and head of commercial banking solutions at Siam Commercial Bank, according to the Thai lender’s website.

Deutsche Bank had seen several key departures in Southeast Asia after Chief Executive Officer Christian Sewing accelerated a push to concentrate more on European customers and pare operations where it isn’t competitive. Suntichok is filling a position left vacant by Phumchai Kambhato, who left the German lender, Bloomberg News reported last year.

Southeast Asia Vice Chairman Philip Lee and Kunardy Lie, a Jakarta-based managing director, both left positions at Deutsche Bank in the region last year.